Friday, November 3, 2006

A Unified Theory of Corporate Economics

Welcome to the Winter Patriot Unified Theory of Corporate Economics.

At issue are the questions: Why do so many different (types of) people see corporations in so many different ways? and Is there a unifying vision which can unite all these disparate views of the corporation?

Such a unifying vision -- the so-called "Unified Theory" -- has long been sought, since it could potentially bring together various (and usually opposing) actors, such as labor and management, liberals and conservatives, democrats and republicans, hypocrites and lesbians, and perhaps, God willing, even atheists.

Consider the following sequence, if you will:

The "classical" view -- that the role of the corporation is to limit the liability of the owners -- led to the rise of corporations.

The "old capitalist" view -- that the corporation's role is to exploit labor while creating wealth for the owners -- led to the rise of labor unions.

The "new capitalist" view -- that the corporation's role is to exploit labor and management while creating wealth for the owners -- led to the rise of white-collar unions.

The "communist" view -- that the corporation's role is to exploit labor and management while creating wealth for the state -- led to the Cold War.

The "screw 'em all" view -- that the corporation's role is to exploit not only labor and management but also the shareholders and the state -- leads to the collapse of capitalism.

These are the times that try men's souls. The summer soldier and the sunshine patriot will, in this crisis, shrink from the service of their country; but he that stands it now, deserves the love and thanks of man and woman. Tyranny, like hell, is not easily conquered; yet we have this consolation with us, that the harder the conflict, the more glorious the triumph.

Wisdom

And I gave my heart to know wisdom, and to know madness and folly: I perceived that this also is vexation of spirit. For in much wisdom is much grief: and he that increaseth knowledge increaseth sorrow.